Clear Street offers pre-IPO access to $188 billion AI firm Databricks

Clear Street is launching a platform that lets accredited investors buy interests in late-stage private companies, starting with Databricks, the AI software firm valued at $188 billion this month. The move, first reported by CNBC on July 31, 2026, aims to open pre-IPO opportunities to a wider pool of investors.

The platform targets wealthy individuals and smaller investors who have been largely shut out of private-market gains. Clear Street CEO and co-founder Uri Cohen said the goal is to "remove friction and give more people the ability to invest in more products," noting that much wealth creation now happens before companies go public.

Demand for pre-IPO stakes has surged as startups stay private longer. Goldman Sachs recently launched a similar platform for its wealthy clients and family offices, CNBC reported last week. Clear Street differentiates itself by handling asset servicing and risk management internally, allowing it to offer margin loans against pre-IPO holdings—a rarity in private markets, according to Cohen.

By yearend 2026, the platform will feature up to 30 startups, mostly tech firms valued between $5 billion and $20 billion that are six months to two years from an IPO. To support the initiative, Clear Street is launching dedicated private-company equity research led by analyst Owen Lau, aiming to bring public-market-style transparency to private markets.

Clear Street itself was valued at nearly $12 billion in a private funding round earlier this year but paused its own IPO plans in February amid market volatility that hit broker and fintech multiples. Despite the delay, the firm is cash-flow positive and raised $400 million through an investment-grade bond offering, giving it runway to build its private-market infrastructure, Cohen said.

Cohen indicated that Clear Street is now looking toward a 2027 listing, depending on market conditions. "We're in a position of strength, so the decision was shelved for better timing," he said.